has anyone come across this?
received info from agent "1% com of buying price applicable to buyer for sub sale private property @ HDB pricing"
this is ludicrous!
anyone can enlighten?
has anyone come across this?
received info from agent "1% com of buying price applicable to buyer for sub sale private property @ HDB pricing"
this is ludicrous!
anyone can enlighten?
Last edited by fiat500; 29-10-11 at 21:50.
however HDB pricing has also gone up over the yrs too..
simple, just don't engage this agent.Originally Posted by fiat500
yes,u are right.Originally Posted by kane
i guess these agents are getting abit out of hand,simply taking advantage.
this agent that emailed me has the audacity to put 1% com. chargeable to the buyer for sub-sale private property.
tell the agent to take a hike. this will limit the number of buyers who will be interested in your unit. they better learn to accept the market rate of seller's 1%. besides, transaction prices are getting higher, so their 1% is also growing. as owners, we give them the risk capital for them to broker the business. they have no downside.Originally Posted by fiat500
lodge a formal complaint to CEA
aiyo, so harsh...Originally Posted by Geylang OKT
below is the reply i got from the agent when i enquired about haig162:Originally Posted by kane
Hi,
Attached are the floor plans for Haig Rd 162 unit.
$600k NETT (not negotiable)
1 bedroom. 366sqft
No noon sun, unblock facing, city view
2 bus stops away from Parkway Parade.
5 minutes to Katong Shopping Centre.
Schools and International Schools.
*1% commission apply to buyer to any private unit, buying at HDB pricing.
Thanks
Ally(Huttons)
Wow, from Hutton some more. Complaint to CEA..., there are another 30k Others who will do compete ....for his biz
I think this agent is just plain greedy coz he already implicitly mentioned that for prices at hdb price, he needs buyers to pay com as well to justify his work for the unit. Probably the seller is paying him 1% or less than 1% for all the work.
How can it be at HDB prices. Prices work out to be $1,639 psf.
if really got private condo at hdb price... i want arh!!... i will pay 5% comm...
since when $6k to market a unit wasn't enough...Originally Posted by Regulators
out there people are worried for their jobs and this greedy fella wants more?! Take a hike!
this kind complain to CEA not much use bcos agent state his terms upfront, parties are free to negotiate the terms.Originally Posted by land118
negotiate or just avoid this agent lor
Not about stating terms upfront, they are not even allowed to collect from buyer for pte pty, agent can't represent both buyer and seller coz conflict of interest.Originally Posted by august
How about if you buy an old pte ppty, can an agent collects comm from the buyer.Originally Posted by Regulators
As for HDB, I understand that the buyer has to pay comm to the agent representing him while the seller will pay his share to his representing agent and there is also a possibility that the agent will represent both the buyer and the seller.
oh ya hor... so the agent is representing seller and therefore cannot collect comm from buyer. Clear breach then.Originally Posted by Regulators
Btw a check with CEA register found one Ally from Huttons, HENG CHUI FUEN (ALLY), Reg. No. R007824J
http://www.cea.gov.sg/cea/app/newimp...regNo=R007824J
Agent cannot represent both buyer and seller. It would be a breach.Originally Posted by irisng
CEA has made it clear agents can only only collect comm from the client they represent.
Quite swee leh, is the extra 1% for other service?Originally Posted by august
many times agent's face on namecard can be a far cry from the face standing in front of u lolOriginally Posted by Regulators
Lol...that I have to agree.Originally Posted by august
I still prefer to HK system, where buyer and seller pay their own agents.
Hard for them to look glamourous like the glamour shot when they have to run around under the hot sun.Originally Posted by Regulators
SO WHATS THE CONCLUSION?Originally Posted by kane
do the buyer have to pay 1% com. for private property?
So you are in agreement with this 1% comm joke? One agent acting for both seller and buyer so get two times comm?Originally Posted by Laguna
My conclusion would be don't use that agent. No other agents to use die die must use her?
Use her then when she found a matching unit, you tell her you don't want already... LOL!
this practised should be stop totally..Originally Posted by ysyap
shouldnt b such thing as not to use that particular agent.
it will come a time when u hv found yr ideal unit only to b put off by all these greedy agents.
Please lodge a COMPLAINT. Don't let greedy agents get away with this.
The moment any buyer agrees to pay commission, a precedence is set and over time it becomes a norm like in HDB. When/If that time comes, want to complain also cannot.
Put a stop to it right away and make a COMPLAINT
In fact with the quantums involving HDB transactions nowadays, commission from buyers should be scrubbed altogether. It is ridiculous... like someone mentioned earlier, a total conflict of interest.
If the agent can help me negotiate with the seller at more than 10% lower than the initial asking price, I would gladly let the agent have the 1% commission.